South Africa sets final guidance on 12-year bond
LONDON, Sept 9 (IFR) - The Republic of South Africa has tightened price guidance on its upcoming issue of a 12-year US dollar-denominated bond as orders swelled past USD7bn, according to one of the lead managers.
The sovereign, rated Baa1/BBB/BBB, has set the final price range for the issue at a spread of 320bp-315bp over 10-year US Treasuries, from initial guidance of 330bp over.
Deutsche Bank, Rand Merchant Bank and Standard Bank are the bookrunners on the SEC-registered issue, which is expected to price on Monday. Investec is co-manager. (Reporting by Davide Scigliuzzo; Editing by Luzette Strauss)
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